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2023–2024 Annual Report

Up to the
Challenge

Welcome

Ontario Genomics 2023-2024 Annual Report

Discover how Ontario Genomics is ‘Up for the Challenge’ in our 2023-2024 Annual Report, where we highlight the latest advancements and impact in Ontario’s innovation landscape.

Land Acknowledgement

Introduction

Government

Message

“Congratulations to Ontario Genomics for another year of impressive achievements! Ontario is proud to support leading genomics research projects that drive homegrown innovation in the agriculture, food, cleantech and health sectors. From finding new treatments to fight cancer to understanding the causes of a wide range of diseases, genomics research is helping us find solutions to some of life’s biggest challenges.”

Honourable Nolan Quinn
The Honourable Nolan Quinn
Minister of Colleges and Universities.

A Message from our

Board Chair, Dr. Ann Marie Vaughan and Interim President & CEO, Stephen Cummings

In a world where global challenges are constantly evolving, Ontario Genomics continues to push boundaries and make strides by positioning Ontario as a leader in the burgeoning field of genomics and biotechnology. Our 2023-2024 Annual Report, with the theme “Up for the Challenge,” embodies our relentless drive to turn challenge into opportunity and innovation into transformation.

UP FOR THE CHALLENGE

Discover how Ontario Genomics is “Up for the Challenge” with our 2023-2024 Annual Report. This year, we highlight how Ontario Genomics continues to transform challenges into opportunities, driving breakthroughs across health, agriculture, cleantech, and beyond. As we prepare to celebrate our 25th year, we reflect on over $1.5 billion in investments and our pivotal role in unlocking Ontario’s share of the global BioRevolution. Together, we are fostering a sustainable, inclusive bioeconomy, cementing Ontario’s place as a global leader in genomics innovation.

Impact During this Year
(2023-2024)

$ 0 M

Funds Raised

Follow-On Funding

0

Jobs Created or Maintained

$ 0 M
Active Portfolio
(Including co-funding)
UP FOR THE CHALLENGE

Impact Since 2000

$ 0 B
Investments (Federal, Provincial, PPP Funding)

Follow-On Investments (Companies & Research)

0

Projects

0

Patents Awarded

0 +

Partners

UP FOR THE CHALLENGE

AT ONTARIO GENOMICS,

we are driven by the mission to address some of humanity’s biggest challenges, from fighting climate change to ensuring food security and advancing treatments for acute and chronic diseases. From our unique vantage point, we enable Ontario to harness the transformative power of genomics and synthetic biology.

We are committed to cultivating genomics talent, believing it holds the key to a healthier, more prosperous, and sustainable world. Join us in advancing Ontario towards a future rich in health, economic growth, and environmental balance.

Ontario has an opportunity to emerge as a global leader in genomics and biotech innovation. However, investment needs to keep pace with accelerating industry and global demand.

The climate crisis demands urgent action, as agriculture must boost food output by 60% by 2050 while reducing emissions. Dairy, a $35B Canadian industry, emits 36% of livestock GHGs.

As climate change and population growth strain our food supply, cellular agriculture offers a sustainable solution. It could create a $7.5B market and 86,000 jobs in Canada by 2030.

Despite recycling efforts, waste—especially plastic and food waste—fuels climate and resource issues. Lack of funds, infrastructure, and planning blocks circular economy progress.

Ontario biotech SMEs need strong support to scale innovations, prevent brain drain, and compete with regions investing billions in game-changing biotech solutions.

Rare diseases affect 446 million people globally, yet only 5% have treatments. Many remain undiagnosed, creating a major physical and emotional toll—change is needed.

Mining fuels the economy, employing nearly 700,000 Canadians and adding $161B to GDP. Yet, environmental concerns and impacts on Indigenous communities need better solutions.

Canada stands poised to lead in biotechnology, but greater unity, collaboration, and STEM inclusion are essential to unlock our full BioRevolution potential.

Genomics is more than health—it’s key to fields like agriculture—but misperceptions hinder its appeal, especially among students, despite its vast potential.

ALL FUNDED PROJECTS

Ontario Genomics funds research and innovation across multiple sectors through a variety of programs to tackle complex challenges with genomics-based solutions.  

Working collaboratively with industry, government, and academia, we support the translation of groundbreaking research into real-life applications to create social, health, and economic benefits for Ontario, Canada, and the World! 

We help develop the talent for multi-disciplinary jobs in a genomics-enabled world that use diverse scientific expertise along with market-focused business judgment.

Maze

Governance

Board of Directors (2023-2024)

Ann Marie Vaughan

Ann Marie Vaughan (Chair)

Ed. D.

President and CEO, Humber College Institute of Technology & Advanced Learning

Nancy Carter

Nancy Carter

CPA, CGA, JD, ICD.D

Board of Directors of Ontario Genomics

Tom Corr

Tom Corr

DBA, MBA, ICD

Former President and CEO, Ontario Centres of Excellence

Colin Kelleher

Colin Kelleher (Vice-Chair)

CEO, Kelleher Group

Mark Lundie

Mark Lundie

PhD

Vice President & Global Medical Lead, Rare Endocrinology and Neurology, Pfizer Inc.

Alex MacKenzie

Alex MacKenzie

M.D., PhD

Senior Scientist, CHEO Research Institute Professor of Pediatrics, Faculty of Medicine, University of Ottawa

Derek Newton

Derek Newton

PhD

Assistant Vice-President, Innovation, Partnerships & Entrepreneurship, University of Toronto

Benjamin Rovinski​

Benjamin Rovinski​

PhD

Managing Director, Lumira Ventures

Jehoshua Sharma

Jehoshua Sharma

BSc., PhD

Co-founder and Director of Operations, cGEM

Deborah Stark

Deborah Stark

Vice Chair, University of Guelph and Former Deputy Minister of the Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA)

Alan Winter

Alan E. Winter

PhD, Hon DSc

Former BC Innovation Commissioner

Anne Woods

Anne Woods

Managing Director, Life Science & Healthcare, RBCx

Observers

Rob Annan

President and CEO, Genome Canada

Colleen Hogan

Division Director, Data, Research & Innovation at Government of Ontario

Financials

Ontario Genomics makes public its annual financial statements, which are prepared in accordance with Canadian accounting standards for not-for-profit organizations. The consolidated financial statements present the consolidated financial position of Ontario Genomics as of March 31, 2024, its consolidated results of operations and its consolidated cash flows for the year then ended.

In This Report

  • Independent Auditors’ Report
  • Consolidated Statement of Financial Position
  • Consolidated Statement of Operations
  • Consolidated Statement of Changes in Net Assets
  • Consolidated Statement of Cash Flows
  • Notes to the Consolidated Financial Statements

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Thank You to Our Funders

Contact Us

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